Show Gold 9 d Values in m Mayflower Mine Min 1 Show Up Well New Park Profits PARK CITY CITY- Gold Cold values In the Pearl fis ils fissure sure at the Mayflower Mine In I Utah's Park City District have averaged as na high as 50 a ton it was reported Friday by Charles CharlesA A A. A Steen president of the New Park Mining Co Mr Steen said In an annual report to shareholders that recent recent recent re cent developments by lessee Hecla lecla Mining Co on the No 3 I IveIn vein Pearl Split have found ore averaging approximately 50 aton a aton aton ton net smelter returns with the theore theore theore ore shoot extending from the foot 2000 level to the 2200 2200 foot foot level At present Mr tr Steen said It it Is not known how i much ch d deeper deep deep- p. p er the shoot may extend Long hold hola drilling indicates conversion and intersection of ot the No SPearl if S Pearl veins to the east of this shoot Such an intersection would afford afford af ford an excellent area for development de de' development of a sizable ore shoot and after atter the intersection the Pearl vein should show a greater I width I lie He said Developments on the foot 2000 level of the Mayflower I indicate ore above average grade I This shoot 1 is Is' Is known to extend upward but Its downward extension exten sion ston is not known at present Quicker Profits for fop New Park I Mr Steen termed the iI I i er gold discovery extremely cu n. n in that profits derived should return the in vestments made by Hecla Mining Co sooner than previously estimated estimated esti estl mated which would result In New Parks Park's earlier participation In profIle profits lie He said developments In the Madison limestone on the 2000 foot level at the Park City district dis property were were very slow due to the large volume of water encountered Hecla plans to crosscut from the drift Into the of the vein in an attempt to decrease water problems and sp speed ed up the progress of exploration We are I very optimistic about the possibilities possibilities of ot a major ore develop ment In this area Mr Steen said I Development by the East Utah I II Mining Co Salt Lake City 1 inthe in inthe 1 the BonIto district ot of I New Mexico near where New Park has a considerable number lot of claims has been discouraging but inconclusive and New Park Parkis I is holding its claims awaIting awaiting further evaluation I New Park has taken lease and option on a gold property in British Brit ish Columbia with more work scheduled on a vein being opened I Up this spring I The report detailed previously 1 announced spin oft of interests interests interests' in East Hast Utah Mining and other I firms New ew Park Park- had net profits profits profits' of ot for the year ended Dec 31 31 1963 from gross Income I I of Salt Sall Salt Lake |